Retirement accounts are great for a lot of things, but you can’t do just anything you want with them.
If you want to take the money out to start a business, for example, you will normally have to pay both the taxes owed, and a penalty for taking it out ahead of the normal retirement age (assuming you aren’t old enough yet).
There is a way around this restriction, however. You can read the article here for more details, but basically it is pretty simple to do, but not without cost.
What happens is, there are companies out there, notably benetrends.com , which will help you work around this restriction.
What they do is form a corporation for you, then move your retirement funds into the new corporation. The corporation then invests in the business you are starting. This is perfectly legal and is approved by the IRS. Although each case is reviewed, there is rarely a reason they turn down the request to make the conversion.
The cost for this is around $6,0...
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I spotted this article about selling add ons to your auctions in the form of ebooks and it sounded like a good idea, but one that has a whole lot more potential with just a slight twist.
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Post Date: 2007-08-02 16:47:32
Failing in business is not the end of the world. Often times, it is really just an opportunity to move on to an even better way of doing something.
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Post Date: 2007-08-23 13:12:09
I came across this business for sale a while back, and the concept was interesting enough that I thought it was worth some further consideration. The business is a vending company, but the twist is they sell heath food instead of the usual soda, chips and candy bars.
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